Corporate Overview

December 2015

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Important Information

This presentation has been prepared by BidEnergy Pty Ltd (“BidEnergy” or the “Company”) based on information available to it as at the date of this presentation. The information in thispresentation is provided in summary form and does not contain all information necessary to make an investment decision.

This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in BidEnergy , nor does it constitute financial productadvice or take into account any individual’s investment objectives, taxation situation, financial situation or needs. An investor must not act on the basis of any matter contained in this presentationbut must make its own assessment of BidEnergy and conduct its own investigations. Before making an investment decision, investors should consider the appropriateness of the information havingregard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. BidEnergy is not licensed to providefinancial product advice in respect of its securities or any other financial products. Cooling off rights do not apply to the acquisition of BidEnergy securities.

Although reasonable care has been taken to ensure that the facts stated in this presentation are accurate and that the opinions expressed are fair and reasonable, no representation or warranty,express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permittedby law, none of BidEnergy, its officers, directors, employees and agents, nor any other person, accepts any responsibility and liability for the content of this presentation including, withoutlimitation, any liability arising from fault or negligence, for any loss arising from the use of or reliance on any of the information contained in this presentation or otherwise arising in connection withit.

The information presented in this presentation is subject to change without notice and BidEnergy does not have any responsibility or obligation to inform you of any matter arising or coming totheir notice, after the date of this presentation, which may affect any matter referred to in this presentation.

The distribution of this presentation may be restricted by law and you should observe any such restrictions.

For the purposes of section 734(b) of the Corporations Act, the Company notes that as part of the proposed acquisition of the Company by Cove Resources Limited ("CVE"), it is proposed that CVEwill make a public offer of 70 million fully paid ordinary shares of CVE ("CVE Shares") at an issue price of $0.10 per CVE Share to raise $7 million ("Public Offer"). A prospectus for the Public Offer("Prospectus") will be made available when the CVE Shares are offered. Anyone wishing to acquire CVE Shares under the Public Offer should consider the information disclosed in the Prospectusand will need to complete an application form that will be in or will accompany the Prospectus, which will be made available by CVE and through its corporate advisers in due course.

Forward looking statements

This presentation contains certain forward looking statements that are based on the Company’s management’s beliefs, assumptions and expectations and on information currently available tomanagement. Such forward looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results or performance of BidEnergy to be materiallydifferent from the results or performance expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding the Company’spresent and future business strategies and the political and economic environment in which BidEnergy will operate in the future, which are subject to change without notice. Past performance is notnecessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward looking statements or other forecast. Tothe full extent permitted by law, White Star and its directors, officers, employees, advisers, agents and intermediaries disclaim any obligation or undertaking to release any updates or revisions toinformation to reflect any change in any of the information contained in this presentation (including, but not limited to, any assumptions or expectations set out in the presentation).

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Overview of BidEnergy

Disruptive, cloud-based SaaS platform offering end-to-end automation of energy sourcing, billingand data management for multi site energy users

Provides a low cost, high integrity channel to market for suppliers – 70 energy suppliers registeredon the platform in Australia, New Zealand and the UK (USA expansion planned for 2016)

Innovative ‘combinatorial bid’ auctions ensure access to the lowest available rates for eachindividual site in a customers portfolio

On-demand access to ‘Big Data’ network and usage analytics helps reduce non-energy charges,optimise spend and enhance reporting and strategy

Over 5,000 customer sites under management across industries inc. banking, retail, government,food services, agriculture, property management and manufacturing

Global scale – any deregulated energy market inc. Australia, New Zealand, UK, USA, France,Germany and Scandinavia

Growth opportunities in any deregulated utility market i.e. gas and water

Unique team of specialists with deep expertise in energy, procurement, auctions and technology

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Disruptive ‘energy spend’ SaaS platform

BidEnergy was founded by a team of energy, data and cloud technology specialists with a singular focus of solving a

global problem and in doing so becoming the number one energy spend SaaS platform globally

Energy Consuming

Organisations

Energy Suppliers

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Energy, data and cloud technology specialists

Stuart Allinson (CEO, proposed Managing Director of Cove)Stuart Allinson has a broad energy & utilities background, having held various positions in production, wholesale,distribution, retail and regulatory affairs. He has consulted to governments, market participants and large business usersin the areas of Strategy, Policy, Process, Controls, Regulation, Compliance, Process Improvement and BusinessTransformation.

Anthony Du Preez (CTO, proposed Executive Director of Cove)Anthony Du Preez is a technology specialist who has founded a number of successful technology companies, includingAdslot (ADJ) and Tradeslot. Anthony designed one of the first electricity auctions in 2002 and has over the last 10 yearsdeveloped auction algorithms incorporated in the BidEnergy platform that are considered to be amongst the mostsophisticated anywhere in the world.

Adrian Palmer (Director of Markets)Adrian Palmer is an expert in financial and energy market risk management and systems. He has broad experience in theenergy and utilities industry including the development of the inter-regional hedging market in electricity and price pathmodelling for renewable energy and carbon markets. He also has the advantage of having extensive trading experienceas head of domestic trading and financial engineering for a major Australian bank.

Bruce Macfarlane (Director of Retail)Bruce Macfarlane has worked at a senior level across the water and energy industries implementing change programsand establishing business strategy. Bruce has line management experience as an electricity derivatives trader and asRetail Systems Manager for major Australian energy retailer.

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Global trends impacting how businesses manage energy spend

Increasing market deregulation and competitive energy procurement –specifically in Australia, NZ, USA, France, Germany, and Scandinavia

Organisations in deregulated energy markets are looking for smart, data enabled and automated SaaS technology platforms to help

manage their energy spend.

Cost of energy is real and rising -companies are seeking ways to reduce energy costs and optimise spend.

Transition to smarter energy consumption data capture i.e. introduction of ‘smart meters’ to capture and record in real-time

Energy costs are rising with demand for more sustainable energy sources in the supply mix

Consumers need access to smart sourcing technologies that maximise supply competition and optimise energy packaging.

Greater volumes of data that can be leveraged to reduce energy rates, optimise non-energy charges and validate bills

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Efficient management of energy spend is a global problem restricting all business owners

How can I minimise the time cost of procuring energy for all sites in my

portfolio?

When is the best time to source energy contracts for my sites?

How do I find the lowest cost energy supplier for each site?

How do I know if I’m getting the lowest rate for each site?

How do I manage energy contracts and complex terms?

How can I automatically validate bills and identify errors?

How do I avoid wasting time resolving billing issues with suppliers?

How do I avoid being disconnected as a result of lost and unpaid bills?

How do I avoid time and resource cost of manually keying in data, raising purchase orders, and paying bills?

How can I get access to on-demand energy spend data and historical data

for forecasting , procurement and management reporting?

Sourcing Billing Data Management

$$$’s on higher energy rates, internal resources, brokers and consultants

Global energy spend management problem

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BidEnergy: One-stop ‘source-to-pay’ SaaS solution

Single platform for end-to-end 'source-to-pay' energy spend management

Innovative ‘combinatorial bid’ platform designed to identify lowest cost supply configuration for multi-site energy customers

Every bill validated automatically for electronic payment – Reconciliation of consumption against invoices utilising live network data

Full payment integration with customers ERP platforms – SAP, Oracle, Microsoft

‘Big Data’ network and usage analytics to reduce non-energy charges, optimise spend and enhance reporting and strategy

Rapidly deployable, easy to use cloud based platform

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Innovative ‘combinatorial bid’ auction ensures each customer site has access to the lowest available

rate from all registered energy suppliers

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Allowing Cotton On to focus on their customers,

not their energy bills

Energy supplier(s)

‘send’ all monthly

invoices to the

platform Platform receives original

bill and automatically

extracts all billing data

Platform automatically

receipts and processes

smart meter data

Platform

automatically

validates each bill

(>25 checks)

Platform automatically

resolves most billing

issues with suppliers

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Bills deemed ‘ok to pay’

forwarded in suitable

format to Cotton On’s

payment systems

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Constant flow of complete and

accurate energy data allows

Cotton On to respond

immediately to market

opportunities (time required for

bids can be reduced from

weeks to days)

7Once triggered, platform

automatically alerts all suppliers

to bid for contracts.

Suppliers can bid for all or

chosen sites in a portfolio,

optimising energy packages

All contracts signed, stored

and managed on the platform

Platform accessible

for many parts of the business

(e.g. finance, operations,

procurement, sustainability)

Network algorithms optimise

non-energy charges which can

represent >50% of each bill

Customer case study: Cotton On

bills processed

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On-demand energy spend,

forecasts, benchmark reports and

accrual reports accessible on any

mobile device. Cotton On takes

control of their own energy data

574sites managed

Australian retail chain, with

over 1,300 stores in 12

countries and over 19,000 staff

in Australia and internationally

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BidEnergy SaaS business model

Over 5,000 customer sites managed including...

NYSE listed company >$40B Market Cap

ASX listed ‘Top 100’ company >$4B Market Cap

Australian fast food restaurant chain +250 locations

Multiple government agencies

Major Australian bank

Global tyre retailer

Retail

Manufacturing

Accommodation and Food Services

Property Operators and Real Estate Services

Banking & Financial Services

Agriculture, Forestry and Fishing

Government

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Fixed monthly subscription fee based on the number of sites and total spend

Simple fee structure avoids conflict of interests associated with supplier commission models

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Indicative re-quotation capital structure: Cove Resources Limited

SHARES (M) OPTIONS (M)PERFORMANCE

SHARES (M)

Post consolidation CVE capital structure1,2 50 28

Acquisition of BidEnergy2,3,4 201 39 70

Capital Raising5,6 70 25

Re-quotation Capital Structure 321 92 70

Market Capitalisation at $0.10/share ($M) $32

1. Assumes consolidation of securities on basis of one share for every twenty shares held

2. Post consolidation options exercisable at $0.10 prior to 30 June 2019

3. Performance Shares to vest in two even tranches upon achievement of revenue milestones

4. Options include 11M (ex. $0.10, Sep 17), 9M (ex. $0.125, Dec 18) and 19M (ex. $0.15, 3 years)

5. Assumes completion of $7M capital raising at $0.10 per share.

6. Includes 25M advisory options exercisable at $0.10 within 4 years of issue.

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Indicative acquisition timetable

MILESTONE DATE

Execution of term sheet or the acquisition BidEnergy 24 November 2015

Completion of due diligence and execution of formal agreements 24 December 2015

Despatch Notice of Meeting seeking approval for the acquisition of BidEnergy Within 60 days of executing term sheet

Lodgement of capital raising prospectus with ASIC Within 75 days of executing term sheet

General Shareholder Meeting to approve the acquisition of BidEnergy Within 90 days of executing term sheet

Closing date of prospectus offer Within 110 days of executing term sheet

Completion of acquisition of BidEnergy and re-quotation on the ASX Within 110 days of executing term sheet

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Contacts

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For further information:

BidEnergywww.bidenergy.com

Cove Resources Limited Winton WilleseeExecutive ChairmanT: +61 8 9389 3110 E: winton@azc.com.au

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